Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Uniswap's growth lead bites back over Yearn Finance’s SushiSwap merger

Uniswap’s growth lead, Ashleigh Schap, has slammed Yearn Finance founder Andre Cronje for complaining about forked projects in the DeFi sector.

Uniswap growth lead Ashleigh Schap has slammed a recent article from Yearn Finance founder Cronje that criticized forked protocols in the DeFi space, with Schap describing Yearn’s recent merger with SushiSwap as validating a "stolen DApp". 

Cronje’s Jan.12 blog post, "Building in DeFi sucks," complained about the risk of competitors forking his code, and combining such with attractive tokenomics in a bid to siphon away users from the products that he has invested significant time into building. He wrote:

“I can build the superior product even, but a competitor can just fork my code, and a token that infinitely mints, and they’ll have twice the users in a week.”

This is exactly what happened when SushiSwap was forked from Uniswap in late August 2020, with the new project launching a native token and yield farming program to successfully leech more than $1 billion worth of liquidity away from Uniswap.

In early December 2020, Yearn Finance merged with SushiSwap, drawing the ire of the Uniswap community. As such, the apparent hypocrisy of Cronje’s comments was not lost on Uniswap’s growth lead, who tweeted:

“One of your complaints is that anyone can steal your work in defi. And yet YFI chooses to partner with Sushi. When a legit dapp validates a stolen dapp buy partnering, it just encourages that kind of behavior.”

Schap also took aim at Cronje’s comments in which he described the notion of community within the crypto sector as “bullshit” which featured alongside the claim that “governance and community kill innovation.”

The thread sparked a debate among the crypto community with Hasu calling it "a rare look behind the curtain" at Uniswap headquarters, that revealed the outfit considers SushiSwap to be "a 'stolen DApp' that should be socially shunned."

FTX founder Sam Bankman Fried, who was handed control of SushiSwap for a short time last year, defended the cloned protocol:

"This is maybe harsh, but I believe it. Uniswap had a long time to do something, anything, with its product. It didn't. This wasn't Sushiswap copying brand new code in real time. It was practically public domain."

Uniswap was able to reclaim its position as the leading DEX by value locked after SushiSwap's first liquidity vampire attack in August by instituting its own native token and liquidity farming rewards. However, after UNI rewards ended in November, SushiSwap reclaimed its billion-dollar TVL by offering yield incentives for the same pairings that Uniswap had previously incentivized.

In December, Yearn Finance announced a merger with SushiSwap in an effort to expand its ecosystem and pool development expertise. In total, Yearn absorbed seven prominent DeFi protocols late last year, including SushiSwap, Deriswap, Cream Finance, Cover Protocol, Akropolis, Bounce Finance, and Pickle Finance.

https://ift.tt/35S2rO7
Labels:

Comments

Post a Comment

Popular posts from this blog

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment
Read more

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...
Post a Comment
Read more

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more